🔍 Episode Highlights

🛢️ Aberdeen: The Oil Capital Effect

• ​Aberdeen’s rapid growth in the 70s–80s was driven by oil wealth and international investment
• ​The city became known as the “Oil Capital of Europe”
• ​Property prices have always been closely tied to oil jobs, investment, and global markets

📉 The Reality of Market Cycles

• ​The 1983 crash saw oil fall to $16/barrel
• ​Homeowners were forced to hand keys back to banks during mass job losses
• ​Similar downturns have occurred roughly every decade
• ​Post-2014 crash:

◦£120K flats dropping to £40–50K

◦Thousands of job losses and outward migration

🏠 Brian’s Early Property Wins

• ​Bought a semi-detached house for £42,000 in 1987
• ​Sold 3 years later for £61,500 (~50% uplift)
• ​Built his own home in Cults:

◦Total cost: £135,000

◦Revalued at £175,000 on completion

🧱 Building a Portfolio Later in Life

• ​Began serious investing around 2020 (age ~60)
• ​Now owns:

◦17 properties

◦15 Buy-to-Lets

◦2 Serviced Accommodation units

• ​Recently acquired a 6-unit portfolio block

⚖️ Buy-to-Let vs Serviced Accommodation

• ​Selling 2 SA units could release ~£40K equity
• ​That could fund 4–5 Buy-to-Lets
• ​Estimated returns:

◦BTL: ~£250/month each → ~£15K/year

◦SA: ~£18K/year but less stable

• ​Key insight: “If your SA is empty, it’s empty. Five BTLs — most are still paying.”

🎯 Investing for the Long Term

• ​Original goal: replace income and preserve pension
• ​Now focused on:

◦Building generational wealth

◦Passing assets to his son

◦Using a company structure for tax efficiency